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quick, what happens next? no good. he's gone. >> well, the question is did they have to pay taxes on those benefits? >> i wants to know what happens next, oversight committees. don't know anything about it. >> eamon is gone. get hell him another time. another dramatic day on wall street. that was before some big news came out on microsoft and ibm earnings and google. ibm got killed in the after market, by the way. we're going to check all the key market news for you just ahead. i'm telling you right now, the girl back at home would absolutely not have taken a zip line in the jungle. i'm really glad that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours. >>> welcome back to "the kudlow report" with larry kudlow along with sue her rare ark. the latest in the boston marathon terror bomb investigation. less than to you hours ago the fbi released pictures of two men described as dangerous suspects in the case. they are asking for the public's help in identifying. >> taking a look at images. the
is beginning to vote to improve an -- approve an internet sales tax that will wreck small business, dan consumers and amount to a huge tax grab for state governments across the country. a terrible idea. ""the kudlow report"" begins right now. ♪ all right. charges were filed against terror suspect dzhokhar tsarnaev. nbc news' pete williams joins us with all the details. good evening, pete. >> well, the combination of evidence here the government says they have, larry, the main thing here is from a surveillance video from the scene of a second bombing, they say they can see dzhokhar tsarnaev come into view. they see him work his way into the crowd, take his backpack off, lower it to the ground. they say still photographs show it down on the ground at his feet and they say one of the most telling moments is when the bomb at the first site goes off. everyone around him looks, virtually everyone, they say, but he is calm, staring straight ahead, not reacting at all. he briefly glances that way, appears to use his telephone, walks away, 13 seconds later the bomb goes off at his location. th
growth, whether it was through tax cuts and other inners and supply side reforms, would you cut them some slack on that or not? >> we would -- we think there's fairly limited room for significant fiscal stimulus that would place public debt on, you know, steeper gradient in terms of its rise. right from the beginning of the process, we recognized the government can use their balance sheet and fiscal measures to offset the decline in private sector demand. so some measures which allow for an easing of the levels of deficit reduction and the pace of that is perfectly consistent with the current rating that we now have on the uk. but can the uk go on a major fiscal stimulus exercise? we don't really think there's much room for maneuver in terms of them to do that in terms of a ratings perspective. >> what happens if they -- they could go on a big tax cutting program and that got rates going. this is more about growth, isn't it, right now, because growth is a way to generate the revenue to bring down the deficit. >> yeah. but that's evident that if you do tax cuts, that you'll get more revenu
president of the czech republic when we come back. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business >>> welcome back to the program. here is a look at how stock res trading, to the up side. we are seeing increases throughout the trading session. yesterday was a different story. we started out okay and rapidly sold off. germany in particular was weak. eegan jones did dowde country to an a from an a plus. the xetra dax today after shedding better than 2% yesterday, which is a huge move for this index, rebounding by about 0.4%. small gains seen elsewhere, the ftse mib in italy up about 0.6%. keeping an eye on the presidential election process. that is currently under way. here is a look at the bond sp
new york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com lets you jump backwards and forwards in time to capture the perfect shot. blackberry z10 with time shift. built to keep you moving. see it in action at blackberry.com/z10 >>> welcome back to the program. there you are looking at sarah ferguson. one of the many guests attending the funeral today in london for margaret thatcher. more than 2,000 guests are expected at st. paul's cathedral just up the road from our cnbc stud yeaio here. it's the first time i believe that a lot of people will be seeing the inside of this cathedral since princess diana was married there a couple decades ago. it's certainly one of the biggest and most impo
, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com >>> there was a car jacking that took place, as well, in cambridge involving a mercedes suv. that car was ultimately discovered here in watertown and is pursued by the watertown police department. the pursuit went into a residential neighborhood not far from here where there was an exchange of gunfire between watertown police, nbta police officer and is two suspects in this suv. during the course of that pursuit, several explosive devices were discharged from the car at the police officers. in the exchange of the gunfire, we believe that one of the suspects was struck and ultimately taken into custody. a second suspect was able to flee he from that c
. back in a moment. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive... but feel alive. the c-class is no exception. it's a mercedes-benz, through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financ
to buy more than 1,000 u.s. dollars worth of gold you have to provide your income tax number. india say major buyer of gold. it is discouraging unaccounted for money moving into gold. i think with regards to commodities, there's a lot of uncertainty about chinese economic growth. if you look at steel production, cement production, it's barely growing in china. residential construction starts last year were down 11%. so i think there's a fundamental issue with commodities. they probably moved lower. there are assets much more interesting than commodities. >> mark, if this is a situation where as you suspect this is someone got in trouble, what happens to prices from here. >> well, if we go back down again and we have a big increase in margin calls again and then money has to be raised in the equity markets to offset losses in gold, then you're going to go down somewhere under you're going to rely on the margin. and cme released yesterday. >> anybody who says that deflation is once again on the table may have nothing to do with that whatsoever. >> i think you're right. i think someone or
a pre-tax profit margin of 17. %, she said she would revisit those goals for the pretax profit margins for that unit in mid year once, again, the final acquisition or the last leg of that brokerage unit has been completed. the year over year decline in fixed income commodities and currency trading was down 42%. she said it was due to the very strong first quarter of 2012. that was due to some hejs that had helped put on for its clients. however, she did note on a quarter over quarter basis trading was up. retail activity among the brokerage clients was strong in january and february. it did taper off a little bit in march on concerns about some of the issues we saw. cyprus the big run-up in the market, et cetera. april got off to a slightly stronger start as well. she said ceo confidence when it comes to m and a, she said right now ceos are looking out to the second half of the year. there is concerns about the profit outlook there and that's holding them back a little bit. debt and equity underwriting remain strong. >> thank you, mary. a lot of information you had from that conversati
the figures look like. w new york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com >>> welcome back to cnbc. disappointing figures out of germany keep market gains in check with investorers concerned about weaker than expected data in china. a mixed set of numbers in europe with kpm disappointing, but more positive earnings from escona. apple is getting set to report much anticipated results around noon. analysts get set for a shrink for the first time in aek did aid. >> your data alert out of britain, that compare bes a 15.5 billion establishment and $16.7 billion a year ago. as britain's finances come more and more into focus, the question then becomes what these levels will continue to look lik
and that they are squeezed to higher payroll taxes. me? i come down squarely in the mechanical camp, because i have liquidated assets myself. i know the havoc that a margin clerk can wreak, because i have been there and been a part of it and perhaps because i am a recipient of a tough margin call and because i know how the raise capital on the fly, and how hedge funds gone wild exacerbated the 2008 and 2009 sell-off with endless liquidations, and i have seen the pattern before and it is similar to all of the other times and it does not mean that it should be longer, but or when the margin clerks are done, but it should sold, because you have little basis of facts. what should you do? first, if you find out no mystery and world wide weakness, take the sell-off from face value and find out who benefits? the answer is companies like general mills, boxes filled with grains that are declining in price. and general mills benefits from the commodities decline all of the way around. so if you believe that there is a worldwide slip for commodities to decline, then gis. and this is the exaggerating the short
going forward. noticing that the effective tax rate that google's reporting is actually 8%. that compares with 18%, both last quarter and in the same quarter a year ago. so you've got to wonder how much that low tax rate affected their profitability and eps in that quarter. >> indeed. all right, thank you, all. an important earnings report period just now and wouldn't you know, it's the fast food company that is the only one that beat on the top line, of all three. and it's up 7.5% right now. thank you. >>> coming up, just three days of the tax deadline comes news of a b involving current and former irsit uil you hea wh they did, michelle. >> oh, i'll be shocked. >>> also, we're going to speak exclusively to bb&t ceo about his company's earnings and his bank's trouble with stress tests. >> that and much more coming up on the "closing bell." you are watching cnbc, first in business worldwide. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who'
this is a phony crisis, aimed at a $1.2 trillion tax hike because federal agencies cannot get their priorities in order. we've got proof. we're going to show you something. stay with us. kudlow. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready real business. >>> all right. first up, as airport delays mount to the faa is blaming the spending cuts sequester, forcing thousands of air traffic controllers to take unpaid leave. but republicans blame the obama administration for selectively choosing which cuts would make us all feel the most pain. take a listen to kansas senator jerry moran earlier today. >> it seems as if politics is playing a significant role in the determining what actions the faa are
being we need more taxes. this whole cutback thing is bogus. after sequestration, the faa will have 5% more money than they did five years ago and will handle about 8% fewer flights. so these cutbacks, it's political. it's not functional. >> 5% more money than five years ago. 8% fewer flights. mike, listen, again, ant ek totally, i agree with you. but how would the faa or tsa or whoever it is execute that plan? they can't send out an e-mail, right, move more slowly than you normally do because that will get out into the hands of the media. how would you accomplish something like that? >> you lay people off or you do what homeland security did, you just cutback on overtime and the people, why do i have to work so hard? this whole thing is orchestrated by the administration. we don't have to lay these controls off, on the tsa side -- there's no waste at the tsa. we all know that. the reality of the whole thing is this is something to make it hard as possible. it's going to hurt commute percent? i have been to an airport recently where there are more tsa workers than they were people get
at $400 a share. it's got more than $100 net cash even after paying taxes, so you're paying $3,000, any earnings down 25% from what's expected. he put a ten p-e on that and this is a very cheap stock unless you believe that earnings will decline every year from here on out. that's ahead of the case and we're not buying ahead of it because we like the position that we have, you know, but we think it's an exceptionally cheap stock at this level. >> it will be one of the most-watched numbers of the quarter. thanks so much. >> thank you. >> switching gears, they were grossly negligent in the lead up to the brokerage firm's collapse. kayla tausche has more on this story which she's been following from its earlier days. >> it seems like it's been forever, david. we're getting a 61-page lawsuit from the bankruptcy court in manhattan. it takes aim at john corzine and the coo and cfo breaching fiduciary duty as it entered a downward spiral in 2011. it seeks an unspecified amount in damages. trustees won approval for a liquidation plan. in a statement, trustee louis freeh says attempts at med med
have a worry about the consumer and tax refunds will start coming now. credit conditions support employment and certainly consumer staples look very expensive. >> what about utilities up 19% so far this year? utilities are up 16% and health care up 19%. is your money safe in there? will they continue to hold up? >> we've been overweight utilities so i'm not going to be too uncomfortable with that and that's improvement with natural gas prices and in health care it's been very much about dividends and that we saw reimbursement rates that were supposed to be cut recallier this year, and i think it's too late to be on the healthcare bandwagon. >> sectors like materials which have not been with the rally and do you think some of the underperforming sectors will catch up? >> we are worried about materials still and we have to be careful in the u.s., chemicals are 20% metals and mining and look at the s&p 500 materials sector. europe is a big problem for chemical companies and even though they have shale gas as a feed stock, the problem is 20%, 25% of their business is probably going t
business to avoid paying any federal taxes. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> >> well, the gold bulls are saying it's about time. gold is finally rallying today. sharon epperson is tracking. it was quite a week. >> it was quite a week and day last monday. the biggest dollar loss that we saw for gold on record. perhaps gold has
the internet. and that's sort of a characteristic of a lot of the al-qaeda tax, where they really shoot for media amplification of these kinds of things. >> i guess what i'm asking, i know it's a difficult question, as probably unanswerable at this point. is it possible, in your judgment, from your experience, and your studies, that only one person did this? >> possible, but not so likely. >> mr. lighter, can you answer that one too? >> i'd say absolutely possible. >> absolutely possible. gentlemen, thank you very much. michael lighter, james forest, we appreciate it. and reminder to our viewers, we are monitoring the situation in boston. we'll break in with any significant break-in news throughout the program. but up next, we're going to switch gears a little bit. i say plunging gold is a good signal for the economy. just as it was in the '80s and the '90s. & there is no end of the world scenario out there. but my friend peter schiff disagrees. he's going to make his case ahead. don't forget, folks, free market capitalism always the best path to prosperity. i think that might include a
in the 35 to 40% -- >> that's still way too high. mortgages are a great bargain under the tax code. >> it's extraordinary. >> are they going to get rid of the deduction? >> i don't think so. it by far impacts middle america more than anyone else. if they tweak it, it will be on the edge. but listen, mortgage interest deduction has been around over 100 years. i don't believe it's going anywhere. >> demand outstripping supply in your last conference call. you said that. even better now? >> it is. >> is there a housing shortage, sir? >> absolutely. >> there is? >> it's worse than any of us imagined. >> what states? >> let's look at new york city as an example. there are money venturi -- >> people are knocking on people's doors who do not have signs. i'm not kidding. >> i know. i know that to be the -- we tell them to do it. they're literally trying to convince you to sell. now, the seller's got to convince themselves that they can actually get the price they want. and that is starting to change. i mean, you're seeing extraordinary price increases. we have markets where prices are increasing
, microsoft, and ibm, coming up in a little bit. stay tuned. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> another day in the red has the major averages o
. >> yeah, it has, which is good because that may counteract the effects of the payroll tax high. what about gold? let's check the commodities like gold, the ten-year. down about 7%. 7 bucks to $1414. there's been a bit of a move in sort of the euro. we want to keep an eye on that. there's your currency chart here in the ten-year treasury note. we talk about home sales. you always want to watch the ten-year treasury note. the yield right now is at 1 o.66. in corporate news this morning, japan says final permission to resume flights on boeing's dreamliner, it may come as early as thursday. that's earlier than expected. yesterday, boeing's engineers began install b reinforced lithium ion batteries on all nippon airways jets. some investment banks that have been looking to sell businesses with liquid assets in order to appease regulators and bolster balance sheets. credit suisse cited the rule last summer as a reason for exploring that sale. also, a u.s. trade panel has ruled apple didn't violate a google patent to make the iphone. if it had been found guilty, the tech giant's popular devices c
caused more issues. it may be the sequester or the payroll tax, and it is always something. first quarter strong. bond yields will go way up and then -- >> no m & a. i can't break the cycle. it's not my job. 18 straight months of re numbers in europe. there are car sales down 15, 16, our car sales 15 million, okay? their housing starts and did they start any housing there? are we not -- >> we are a different place. >> what about we've had some pretty crumby data. we've had an explosion in boston. we've had cyprus and the vix is still at 14. converge extries to argue that the market's on am bi18 and it can't feel what's going on in the world right now. >> i thought it was seroquil. there is the market that just says kimberly is going to report, and i think kimberly is going to be decent and its stock's at par and then there's caterpillar they made their bed with china. china has not been able to stimulate. 25% of china's exports go to europe. there's no room in europe unless china sets up the buy program of all of the things they make in china and then destroys them in the 1930s in our cou
stay with us. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com [ male announcer ] the first look is only the beginning. ♪ ♪ this is a stunning work of technology. ♪ this is the 2013 lexus es and the first-ever es hybrid. this is the pursuit of perfection. >>> the mayhem began last night. they shot the m.i.t. police officer in the head and killed him. the suspects carjacked a mercedes suv. >> there is a massive manhunt under way. we're asking people to shelter in place. in other words, to stay indoors. >> that pursuit ended up in watertown, massachusetts. a massive dragnet has ensued. >> officials apparently on the lookout for some accomplices other than the suspects that
,000. taxes, $5800. three bedroom, two and a half bath. 1700 square feet, built in 1980. tell me more. >> yes. that's in the exciting penthouse square pens landing area just off society hill. that is a move up buyer or possibly two working professionals who plan on having a family shortly. it has a garage. fantastic master suite with a roof deck, city view, river view. a great area for joggers and bikers. there are restaurants. >> and it has a garage. that makes it very valuable in that area. now to our power house of the week. the kwint sential home. the list price 1 million $850,000. taxes just under $11,000. five bedrooms, 3.5 baths. historic property. built in 1794. >> when you think of philadelphia, this is philadelphia. pine floors. moldings. restored to perfection. 19 feet wide. fantastic garden. this is a corporate relo. a suburban person who raised their family and moving in with maybe older children. this is six fireplaces. it's exactly what philadelphia represents. >> are you seeing some bidding wars on some of the houses? >> we're seeing a tremendous amount of bidding wars primari
. you've heard that the first quarter was tough. probably payroll tax impacted more than anything else. and small business is -- and big business for that matter is totally the flux with the obama care act and what it all means. and business is looking at part-time, that you've got to keep people under 30 hours. they don't want to employ more than 50 people. and nobody really knows how this thing is going to work. now, as far as the japanese yen, every major manufacturer in the world has made a strategic decision to produce where they sell. no manufacturer can deal with the volatility in exchange rates. and if you look at where the japanese are today compared to 10, 20 years ago, there is no comparison with let's say 80% produced in north america. so the exchange rate has been dramatically reduced as a factor in our business. and at the moment, i don't see any impact. >> okay, mike, $42. we've been friends a long time. you couldn't tell me at four bucks that that was something i should -- actually, we're not allowed to do it, anyway, but you couldn't have mentioned that back in 2008 or
talk to in the medical device field is worried about the affordable care act, the tax on medical device makers. how significant is that in your view? >> i think there's a couple ways. first of all, the fact that more patients are going to get access we think is a good thing. it's unacceptable that patients are either uninsured or underinsure. tax, yes, it has an impact. we've got to make sure it's done in a responsible and reasonable way. overall we're convinced that it's going to continue to be about innovation, about strong customer partnerships. and really when you think about now, our medical device business, particularly our orthopedics business, our size and scale, the growth opportunities here and very much so in emerging markets. so, for example, all surgery is really just about trauma surgery in emerging markets. it's not as planned. as a result what we're seeing is significantly better growth rates in some of those places. >> i love that emerging markets part of the story. because you just look at the growth numbers and you figure out what the story is. but are you going to ha
the last couple of months. >> there are good articles in the papers today about how the tax receipts were better than expected so far, and the money back out for your refund, much lower than expected and that could be a dollar issue. i know family dollar flagged that, and the ceo of pvh came on "mad money" and said, it was 20 degrees too cold so we had the -- all of the stores had the wrong merchandise and they had the so-called cruisewear. it was obviously a multi-factor issue and it was not just one thing that says target was bad. walmart was not bad and a very good note. costco, and i'm -- i thought that was interesting. surrounded by costco and walmart. you know those cultures are not weather cultures. >> yeah. ubs initiates with a buy on those two and a neutral on target, but someone pointed out the sales trend on target, jim, from the past four quarters has gone from 5-3, 2-9, .4 and now they're looking flat. >> they're not a jc penney beneficiary and walmart is not very renewed in its tenacious way to take on target and underneath the dollar generals. i know people don't associate
places in europe, it's contracting. and in the united states, we have a tax code that is not designed to incent investment, which produces jobs and gdp growth, and hopefully we'll change that soon. >> international priority shipping saw a decline in what you charge per package to ship. what does that tell you about the global economy outside of the u.s.? >> well, i think what people are doing with the price of fuel, and this goes to larry fink's remarks a few moments ago, about the prospects for mexico, as it costs more to move goods, off a the price of fuel, they make price service trade downs, so our economy shipping was growing quite nicely. we simply have to adjust capacity and got a little out of phase with that. but it's not by accident that, again, referencing what larry said a couple years ago, we bought a wonderful company in mexico, which is now a big part of the fedex portfolio, because we believe there's be a lot of near shoring and the nafta trades will be quite strong. >> yeah, i am loving this mexico story. you're investing in mexico as well, really interesting. fred, l
, tax day. >> no. >> it would have brought the militia idea, tax day, something people were hoping for. >> it gives rise to patriots day. they move it around to have it on a monday. this is america's fight for freedom. this is not just a regular marathon somewhere in the u.s. >>> ambassador woolsy, we want to thank you for your time this morning. certainly shed light and made us think of things we hadn't thought of before. >> thank you. good to be with you. >> r. james woolsy, former cia director. a lot of this information is still very new, fresh. nbc news through pete williams has been reporting that the two terrorists are brothers. one of them was born in 1993, july of 1993. he is the suspect still on the loose that police have still been trying to capture today. he is the gentlemen -- or the terrorist wearing the white hat that you're looking at right now. his brother was killed earlier this morning. he became a legal permanent resident in 2007. we have been told the brothers came with their families from russia and kerzic stan. he pointed out, again, this is just early thoughts at
for not doing so when carnival pays a poet total tax here. >> all right. let's go to scott in boston with breaking news. this is reporting by the boston globe which says that authorities have now gotten an image of somebody dropping a bag at the site of the explosion and that could potentially be a suspect. we don't know if there is an identity on that suspect. i want to show you down here some of what's been going on. this is a fire department ladder here but we saw just a short time ago. the news is the boston globe reporting that authorities have an image of somebody placing a package at the site of the tragic explosion on monday and that could be a suspect. we're following this and we'll keep you posted. >> people are asked if they took video with their mobile phones to turn that in. do we have any idea where that image came from? >> i don't. while i talk, let me show you more of these guys off the roof. there are a lot of people with cell phones and also surveillance cameras, at least three as we reported yesterday that were trained on the finish line. and they were reporting on
for the industry in the fourth quarter due to tax law changes and just a seasonal spike. but b of a had better than peer loan growth. commercial loan growth was up 3.4% link to quarter. that includes international where they're taking share but u.s. loan growth was up in the quarter. loan growth at b of a certainly looks better than their megacap peers, at least this quarter. >> okay. anthony, thank you for your quick analysis this morning. thank you for calling in. i'm sure we'll talk to you again soon. >>> in the meantime, coming up, we've got a high profile bust at an art gallery involved celebrity poker international money laundering and racketeering. more on that story next. and still to come, david blitzer, the chairman of the index committee for s&p dow jones when we return. but at xerox we've embraced a new role. working behind the scenes to provide companies with services... like helping hr departments manage benefits and pensions for over 11 million employees. reducing document costs by up to 30%... and processing $421 billion dollars in accounts payables each year. helping thousands of c
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american express is probably getting hit on here is what's happening with tax rates, happened in the first quarter of this year, and the other issue that's really occurring is i think businesses are still holding back on spending. significant percentage of their revenue comes from businesses. and you know, on the long-term, also, we have to be very, very aware, american express, on the long-term, is going to -- >> they're having a fire drill here at the new york stock exchange. >> it was scheduled. >> pre-scheduled, exactly. it was scheduled already. so ignore the noise here happening around me. >> okay. >> very quickly, i want to get to bruce mccain as well, michael. finish your thought. >> my thought was, you have to be careful about companies like paypal, all these other very inexpensive swaywaways to colle money, it will be a hit on american express margins, eventually. >> bruce mccain, do you want to buy on these dips we've been seeing, or is it time to start taking money off the table at these levels? >> i think you need to wait a little bit. part of it is, there's still excessively
where you get this increase in volatility after tax time. and you see all the companies revising their earning forecast to temporary expectations. and so typically in the next month or two we'll have some external macro surprise that will get everyone concerned again. it's been a very consistent pattern that we do well in the fall and the early spring and then cool off and get more volatile. >> rick santelli, markets all waiting for these earnings reports this week. in the meantime among your markets, gold has bounced big today. the dollar is still flirting with 100 yen. what are you watching? what are the benchmarks you're keeping an eye on this week? >> well, you know what, i think the biggest benchmark that i'm going to pay attention to is the dax stock index in germany. it's down about 1.75% on the year. last week not only were eurozone car sales, registrations off, but germany was off in particular. i think keep it simple. i think as those auto numbers deteriorate, it's just going to exaggerate all the other weaker economies. and when you get the imf admitting that austerity
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